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, director of the Bandier Program in the Newhouse School, was quoted by Bloomberg News for the story “.” Werde, an expert on the music industry and former executive at Billboard, says that both Swift and Braun knowingly entered a contract in which they fulfilled, but musicians often have a difficult time accepting this balance of power with record labels. “Labels invest time and money in artists. And labels want things. Masters are typically one of those things. That’s the deal we make,” says Werde.